Closing Costs for Residential Real Estate Transactions

"Closing Costs" are the fees which pay for various services involved when you sell or buy residential real estate. Buyers and sellers usually negotiate the payment of these closing costs.

Many of the costs associated with buying residential real estate are associated with getting the loan. Since Bob Rutledge Mortgage has extensive experience with mortgages & closings, we are closing cost experts.

Loan Estimates (LEs)

Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. We base this closing cost estimate on our many years of past experience. Please note that while our LEs are very precise, we can't always estimate your costs to the penny. We will be glad to review the "Loan Estimate," answering your questions and pointing out costs that sometimes vary a little bit at closing.

Below is a fairly generic list of costs for buying residential real estate. We will provide you with a specific list of your closing costs when we deliver your Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Appraisal Costs
  • Getting Your Credit Report
  • Interest Payment
  • Escrow Account
  • Various Taxes
  • Loan-related costs
  • Points — lower your interest rate (optional)
Property Taxes
  • Transfer Taxes and Recording Fees
  • Insurance
Homeowners Insurance
  • Flood or Quake Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance

Bob Rutledge Mortgage can answer questions about these closing costs. Give us a call: 3149139678.

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Bob Rutledge Mortgage

Loan Officer NMLS#: 297044

New American Funding 12321 Olive Blvd, ste 150
St. Louis, MO 63141